africa Economy FDI Finance Gas Ghana Mozambique Natural Resources oil

Eni sees final investment decision on Mozambique’s first deep-sea project by December

Italy’s ENI said a final investment decision is expected from partners on Mozambique’s deep-water Coral South floating liquefied natural gas project by next month, with production starting five years later.

“The facility will have 3.3-million tonnes of LNG production comprising gas treatment, liquification, storage and off-loading facilities,” Luca Bertelli, chief exploration officer, told an African oil and gas conference on Tuesday.

Luca Bertelli, ENI's chief exploration officer
Luca Bertelli, ENI’s chief exploration officer

He also said ENI expected first oil production starting in early next year from Ghana’s $7.9-billion offshore field, with gas production coming online in the second half of 2018.

Bertelli said an estimated 60 000 barrels of oil will be produced by a floating production facility capable of also treating around 210-million standard cubic feet of gas as Ghana aims to become a major African oil and gas producer.

Source: Engineering News


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